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��14�7753
<br /> ��:�� ��' T�U�T
<br /> .
<br /> � C���:l�i���d} P�ge 3
<br /> the IV�tional �Iavd Insuran� Program, or as�therwase required by Lender, and to maintain such ir�suran�e fvr the.
<br /> term vf�h�Ioano
<br /> Applicativr� of�ro�e�ds. T'rustvr�hai!prompt�y notify Lender��any loss vr damage t�the Prape�ty. Lender may
<br /> make proo� of lo�s �f T`rustor faifs tv d� �� within �if�een �15} days af�he casu�[typ VVh�ther ar �flt Lender's
<br /> security is impaired, Lender may, �t L�nder's electian, recei�e and retain the prvice�eds af any insuran�e and appfy
<br /> the proc�eds t� the reduction o€the lndebtedness, payment vf any lien �f�e�tie�g �he �rvperty, �r the restorat�on
<br /> and repair vf�he Proper�y. If Lender�lects to appiy the pra�eeds ta restvrativn and repair, Trus��r shall r�pair�r
<br /> replace fihe damag�d �r destroyed ImproWements in a �nanner �afisfiacfory ta Lender. Lender �hall, upon
<br /> �atis�a�c��ry proa� of such e�pendi�ure, pay ar reimburse Trustar from the prviceeds fvr the reas�nabl� cost of
<br /> repair or res��ration 9f Trustor is nfl� in de�aulf under �his ���d ❑f Trus�. Any pr��eed� whi�h hav� no� been
<br /> disburse�d within �8� days a�ker�heir receipt and wl�ich Lender has not cammitted tv �he r�pair or restorativn �f
<br /> the Proper�y sh�1l be used �irst to pay any amount�wing to Lender under this �eed vf Trust,then t❑ pay accrued
<br /> �nte��est, and the r�rr�ainder, if any, shall b�e app�ied to the prin�ipa[ balarrce of the indebtedn�ss. If�ender hoCd�
<br /> any prvc�eds �fter payrnent in tull of fhe �ndebfedne�s, such proceeds shali be paid to �'rust�r a� Trustar's
<br /> inter��ts rnay appear.
<br /> Gvmpl�ance vvith Existing Indeb�e�ness. [�uring the p�riad in o+vhich ar�y �xistin� Indebtedne�s desc�ib�d below i�.
<br /> in efifect, c�mplianee with the in5urance p�ovisi�ns cantained in th� in��rumen# �vid�er�cing su�h Exisfing
<br /> indebtedne�s shalf cortsfitut� camplian�� v�€th the insu�ance pr�o�isions u�der this deed �f Trus�, ta the exter�t
<br /> camplianc� virith the �erms ❑f this Deed af Tru��would c�n�titute a duplicafion of insurance r�quir�m�nta �f any
<br /> praceeds frorr� the insurance becom� payabEe on la�s, the provissons in this I�e��o�T'rus�f�r divisian of pro��tl�.
<br /> shail apply only to that portFon�f t�e proceeds nnt payab[e tfl�he hold�r of the Exi��ing lndebte�dness.
<br /> L��DER'S EXPEN D11'U RES. I f Trustar faE ls �►�} to keep the Property fr�e o� �l i t�c�s, �iens, �ecu ri� i r�teres�s,
<br /> en�umbranoes, and ath�r�clair��, �B� to pra�ide�ny required insurance on fhe Pr�pert�r, ��} to rx�ake r�epairs fv the.
<br /> Prop�r-�❑r�a �orripl�wi�h any ob[igativn ta ma�ntain Existing Ind�btedn�ss in good standing as r�uired below, ther�
<br /> Lender may�fo so. '� any actiar� or proceeding is corrrmenced that wauld ma�erially a�Fec� Lend�r`s infi�rest� in th�
<br /> Property, �hen Lender ❑n Trusto�'s beha[f rnay, but �s nat required to, tak� any a�tio�n �ha� Lend�r believe� t� b�
<br /> appropriate ta protect L.end��'s interest�. Al! e�enses inc�rr�c9 or �aid by Len�der��ar such purpvs�s wifl �hen b�ar
<br /> interest at ##�� rat� charged under the hlote from �he da�e ir��urred or paid by Lenc��r� ta th� date of rep��rt�ent by
<br /> T'rus�o�. �1�1 suc� expenses will beco�e a part af�he Indeb'�edness and, at Lender's ❑p�i�an, drvil[ �A} � payable or�
<br /> dernan�; �B} be added to the ba�anoe �f the Note ar�d b� appor�i�ned amang and be payak�le with any �nsta[�m�nt
<br /> payment�to b�come du�during eiti�er ��} the term o�any appl�cable insurar�c�policy; vr �2} the �emaining term a�
<br /> th� Nate; o� {C} he treated as a balf��n paym�nt which wiEi be due ant�paya�Ce at the �fa�e's maturity. T�e Deed v�
<br /> Trust als�vvil! secure paymen�❑f thes�amounts. T�h�rights pro�ided �or�n this paragraph shall �e in addition t� �any
<br /> other righ�s �r any rem�die�tv whi�h Lender may be er�tEtl�d on accour�t of any default. Any such 2�ckian by Lend�r
<br /> shafl not be construed as�uring the defa�lt sv as�a bar Lender frorr�any rernedy thart i�atherw�se waul�ha�e had..
<br /> V�fARRANTY; DEFEN���F TlTLE. The€allowing provisivns relating ta ownership of the F'ropert�are a part�f this �ee�
<br /> of Trust:
<br /> Title. Trustor vvarrants that: �a} Trustor holds gaad and marketable title ot r�cord t� the Pr��aerty in f�e simpie,
<br /> free and clear af a1E liens and encumbrar�c�s other th�n �hos� �et �orth �n the F�eal Property �es�rip�ion vr ir� the
<br /> Existing Ind�b�edness s��tivn beFow�r in any�itle in�urance po[icy, title report, or final titEe vpinion issued in favor
<br /> of, and accepted by, L�nder in cannection with fiMis Deed vf Trus�, and �b}Trustor has the full right, power, and
<br /> authari�y to e�cecute and deliver this��ed�f Trus�to Lender.
<br /> De�ense v�Ti�le. �ubject to �he e�cception in the paragraph abov�, Trus�ar warrar�fis an� w�ll f�r�Ver de�end the
<br /> #itle to th� praper�y against�he lawful claims o�all persons. I� the event any �cti�n �r�r�ceeding is��ammenced
<br /> that�ues�i�ns T'rusfUr`s�titie or the interest af Trust�e or Lend�r und�r this D�ed v�Trus#,Trustor shall defend the
<br /> acf�on a�Trustor's �xpense. TrustQr�ma� be the nominal parky in such pr�ceeding, but Lender shall be�ntitl�d to
<br /> participate ir� �he p�oc�eding and to be r�presented in fhe proceeding by cQunse! af Lender's vwn choice, and
<br /> Trustor will deliver, or cause�o be de�iv��ed, to Lender such ir�struments as Lender may req�est fr�m tim�to time
<br /> to permif su�h p�rticipa�ion:
<br /> Cornpliance Witt� Laws. Trustar warranfs that the Prvper�y and Trustar's use of the Praperty c�mplies with a[l
<br /> exis�ing applicab�e laws, ardinances, and regulati�ns o�g�Wernmer�tal a�thvritie�.
<br /> S�rvEval of PramEses. R[[ promises, ag��ement�; and statemen#s Trustor has rnade in this G3eed af Trust shall
<br /> surviue the execution a�d defi�ery vf this Qe�d of Trus�, sha�i be continuing in r�ature and sha11 remain in full force
<br /> and effect un�il such time a�Trustor'�Indebtedne�s is paid in full.
<br /> EXiST1N���t�EBT�����S. The faJfov�ing prov�isions cancerning Existing [ndebtedr�ess are a part of this D�ed o�F Trust:
<br /> Existing L�en. �h� lien �f this �eed of T�ust securing the Indebtedness ma� be secondary and inferivr to an
<br /> exis�ing lien. Trustar expr��sly c�ven�nts�nd agr��� to pay, Qr see to �he paymen#�f, the Existing fndebfedness
<br /> and to preven�ar�y defau�#on su�'h indebtedness, any de�ault un�e�the ir�struments ��idencing su�h ind�btedness,
<br /> ar any default under any s�curity dv�uments for such ind�btedr�ess.
<br /> No;��d�fica�i�n. Trustvr shall nQt enter into any agreement with the hvlder o� any rr�ortgag�, deed �f trust, or
<br /> vther se�urity agreemen� which has pri�rity o�er this Deed of Trust by which that agreement is m�difed,
<br /> arnende�d, ext�ended, or renewed without the prior writt�n eonsent �f Lender. Trustor shall neither req�est nvr
<br /> ��ce�t any�'uture ad�ances under any su�h s�curi�y agreement without�h�prior written cvnsen��f Lender.
<br /> C4NDEI�iNATIUN. The folfvwing prvvisi�ns rela�ing t�conder�natia�pra��edings are a p�rt o�this �e�d of�rust;
<br /> Proceedin�gs. if any pro�ing in cond�:mr�atian i� filed, Tru�to� sha�! p�omp��y notif�r Lender in �ri�ing, and
<br /> Trustar shal! pramp��y take surh st�ps as�ay be nec�essary ta defiend the�ction and obtain the awar�. Trus�or
<br /> may be th�naminal party+in such pror�e�ding, but Lencfer�hafE he entitled to par�i�ip�te in�h�prviceeding and tv t�e
<br /> repr�senfed in the pro�eeding by rounsel of its own chaioe= and �'rusfQr will de[iver ar cause to �e defi�ered to
<br /> Lend�r such instrurrlen�s and docurrl�ntation as may be r�ques�ed by Lender fram time t� time to permit �uch
<br /> par��c�p�tion.
<br /> Applicatian vf Ne�Proc�ds. �f afl ar any part of�he Property is oond�mned by eminen�damain prooeedings or by
<br /> any prafleeding or purchase in lieu ot�ondemnatior�, Lender may at it�election r�quire that all or any portiion a�the
<br /> nst pr�oeeds af�he award be applied ta the Indeb��dness ar the r�pair or restoration of the P�opert�. The r��t
<br /> praoe�ds��f fihe awa�rd shali mean the award after payrnent�f all reasanab[e costs, expenses, an�d attorn�ys' tees
<br /> incurred by Trustee flr Lender i�connecti�n vui�h�the con�c�ernnation.
<br /> ���OSlTIUN �F TA�ES, F�S AND CH►4F���S BY G�31��R����'�AL AUTHaRITlES. The �ollovving provisions relating
<br /> tv gavernmenta[taxes,fees and charges are a par��f this Deed of Trust:
<br /> Curre�n�Tax�s, Fe�s and Charges. �pon requ��t by Lender, Trustor shail ex�cute such documents in additifln ta
<br /> this Deed of Trus�and take wha��ver nther�ction is r�quested by Lender to perf�ct and Gon�inu�e Lender's lien on
<br /> the Real Praperty. Trustor shail r�imburse Lender�or all taxe�, as described bel�w, �og�ther wifh all expenses
<br /> in�urred in re�cvrding, per�ecting or c4ntinuing this Deed �f Trust, including withorut limi#ation all taxes, fees,
<br /> d�cumen�ary starnps,�nd other cha�rges for recvrding or re�istering this Deed of Trust.
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